A detailed concept of declining stocks represented by descending arrows on a digital display board. The reason for this decline is subtly attributed to the cost of Artificial Intelligence advancements as seen by notes and sticky reminders affixed to the corners of the display. Simultaneously, silhouettes of tech-industry titans are shown in the background of the scene, visually emphasizing their concern over the matter.

Global Stocks Fall as Tech Giants Warn of Rising AI Costs


Global stocks experienced a decline on Wednesday as tech giants Alphabet and Microsoft issued warnings about the increasing costs of developing artificial intelligence (AI) technology.

In Dublin, the Euronext Dublin index closed with a 0.4% decrease at 9,178.12 units, marking a “weak day” compared to the rest of January, according to Dublin professionals who witnessed the decline in global stock markets. Among Irish banks, AIB saw a decrease of 0.1% to €4.08, while Bank of Ireland also dropped by 0.91% to €8.53. On the other hand, Permanent TSB gained 0.29% and closed at €1.72.

Cairn Homes was among the few companies that experienced an increase, rising by 0.14% to €1.42, while Glenveagh Properties declined by 1.45% to €1.23. Construction materials company Kingspan dropped by 0.66% to €75.56, and packaging company Smurfit Kappa also had a lower day, recording a decrease of 1.96% to €34.55.

Food company Glanbia was among the biggest gainers of the day, with an increase of 1.53% to €16.54. Kerry Group also saw an increase, rising by 0.88% to €82.68.

In the context of an overall weak aviation sector, budget airline Ryanair experienced a decrease of 0.75% and closed at €19.32. Insurance company FBD Holdings decreased by 2.49% to €11.75, while the Dalata Hotel Group, which manages the Clayton and Maldron brands, declined by 0.93% to €4.81.

In London, the FTSE 100 Index declined by 0.47% on Wednesday, closing at 7,630.57 units, while the FTSE Mid-Cap 250 Index, which is more focused on the domestic market, slightly increased by 0.04% and closed at 19,357.95 units.


Q: What were the main factors contributing to the decline in global stocks?
A: The decline was primarily driven by warnings from tech giants Alphabet and Microsoft about the rising costs of developing AI technology.

Q: Which Irish companies experienced decreases in their stock prices?
A: Bank of Ireland, Glenveagh Properties, Kingspan, Smurfit Kappa, Ryanair, FBD Holdings, and Dalata Hotel Group all saw declines in their stock prices.

Q: Were there any Irish companies that saw an increase in their stock prices?
A: Yes, Cairn Homes, Permanent TSB, Glanbia, and Kerry Group experienced gains in their stock prices.

Q: How did the London stock market perform?
A: The FTSE 100 Index in London declined by 0.47%, while the FTSE Mid-Cap 250 Index slightly increased by 0.04%.

– [Euronext Dublin](https://www.euronext.com/)
– [AIB](https://aib.ie/)
– [Bank of Ireland](https://www.bankofireland.com/)
– [Permanent TSB](https://www.permanenttsb.ie/)
– [Cairn Homes](https://www.cairnhomes.com/)
– [Glenveagh Properties](https://glenveagh.ie/)
– [Kingspan](https://www.kingspan.com/)
– [Smurfit Kappa](https://www.smurfitkappa.com/)
– [Glanbia](https://www.glanbia.com/)
– [Kerry Group](https://www.kerrygroup.com/)
– [Ryanair](https://www.ryanair.com/)
– [FBD Holdings](https://www.fbdgroup.com/)
– [Dalata Hotel Group](https://www.dalatahotelgroup.com/)
– [London Stock Exchange](https://www.lseg.com/)